I would definitely bring together appropriate stakeholders for the brainstorming session to discuss risks.
Additionally, if there were similar projects before, interview the members of that project team to discuss issues they may have had that you are at risk for having as well.
All member of the team are responsible for identifying risks and working with the project manager (or in this case you as the assistant to the PM) in applying the ratings.
Each risk will then be assigned a risk owner.Saving Changes...

Everyone in the project is responsible and should take part in this. For identifying risks, it is best if you get all stakeholders together including the whole team and do this exercise together. You need as much stakeholders involved in risk identification as possible and this is an on going process throughout the project. As for risk rating, I would use Expert Judgement to rate the risks.Saving Changes...

The solution is to do a meeting or a workshop, in my opinion, gathering the stakeholders as needed. As Rami said, you should use Expert Judgement, but you should try to level the discussion and make sure that everybody understands what is a high impact on cost, for instance. You should have a scale of probability and impacts and try to do a comparison between the risks as you go along, making sure that the work is consistent.

Its key that all that can contribute - does contribute in compiling the initial risk register and contributors added once the project evolves. Risk on a project can come from anywhere and at anytime so its key that participants from all fields / disciplines contribute to the risk register in each and every phase starting with the conceptual and completing with the operations phase. Each phase has its own unique risk as well as experts so its important to address those risk at the beginning of each phase while you can.Saving Changes...

Stakeholders are apart of the conversation but ultimately the project team (doing the work) is the expert. When there is disagreement within the team, the individuals closest to the work should be looked upon as the expert in assessing the risk. These risk should be reviewed by the PM with the Sponsors for their complete understanding. It's at this point the PM might be asked about making an adjustment.

We all are aware of individuals who are extremely risk adverse and will overstate the risk to their work just so they have some distance form responsibility. There are others who are overly confident and don't think through the world of possibilities before considering the actually being exposed to the risk. Before going to the sponsor the team should have talked through all of these considerations. this places the PM in a much better place to be able to explain the risk ratings being provided.

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1 reply by Rami Kaibni

Jul 28, 2018 4:36 PM

Rami Kaibni

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Hi Bruce,

Very interesting point of view. However, I believe all stakeholders should be part (Not apart) of the risk identification process, not only the team. The involvement of stakeholders at this stage of the project is very cruicial.

As per PMBOK, the risk will be identified by anyone by using gathering information, assumption and checklist. After that use expert judgement to rate risk and prioritize which these are most risk to make numerical analysis!!!Saving Changes...

Stakeholders are apart of the conversation but ultimately the project team (doing the work) is the expert. When there is disagreement within the team, the individuals closest to the work should be looked upon as the expert in assessing the risk. These risk should be reviewed by the PM with the Sponsors for their complete understanding. It's at this point the PM might be asked about making an adjustment.

We all are aware of individuals who are extremely risk adverse and will overstate the risk to their work just so they have some distance form responsibility. There are others who are overly confident and don't think through the world of possibilities before considering the actually being exposed to the risk. Before going to the sponsor the team should have talked through all of these considerations. this places the PM in a much better place to be able to explain the risk ratings being provided.

Hi Bruce,

Very interesting point of view. However, I believe all stakeholders should be part (Not apart) of the risk identification process, not only the team. The involvement of stakeholders at this stage of the project is very cruicial.Saving Changes...